Toyobo : Presentation to Investors for the First Quarter Ended June 30, 2021

August 5, 2021

Presentation to Investors

for the First Quarter Ended June 30, 2021

TOYOBO CO., LTD.

Highlights

Q1 FY 3/22 Results

• Despite the impact of rising raw material and fuel prices, sales and profit increased as industrial films and reagents for PCR testing performed strongly and automobile-related demand recovered.
• Operating profit of ¥9.2 bn (2.1-fold) and profit of ¥6.2 bn (3.5-fold)

Net sales

+25.4%
(¥ bn.)
75.5	94.6
Q1 FY 3/21	Q1 FY 3/22

FY 3/22 Forecasts

Operating profit

+112%

9.2

4.4
Q1 FY 3/21	Q1 FY 3/22

Profit attributable to

owners of parent

250%

6.2

1.8
Q1 FY 3/21	Q1 FY 3/22

Operating profit was revised upward to ¥29.0 bn as industrial films and reagents for
PCR testing performed strongly despite concerns regarding the impact of rising
raw material and fuel prices. Net profit is forecasted to be ¥13.0 bn.	2

Summary of Results: P&L

				(¥bn.)
	FY 3/21	FY 3/22	YOY
	Q1	Q1	Amount	%
Net sales	75.5	94.6	+ 19.2	+25.4%
Operating profit	4.4	9.2	+ 4.9	+ 112.1%
(Ratio to sales)	5.8%	9.8%	-	-
Ordinary profit	2.8	7.5	+ 4.7	+ 170.2%
Extraordinary income and losses	-0.4	-0.5	- 0.1	-
Profit attributable to owners of parent	1.8	6.2	+ 4.4	+ 249.8%

EBITDA*	*Operating profit + Depreciation (includes goodwill)
EPS ()

8.8	14.3	+ 5.5	+ 61.9%
19.9	69.5	-	-

Depreciation	4.5	5.0	+ 0.6	+ 12.8%
CAPEX	6.1	7.3	+ 1.2	+ 19.0%

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Analysis in Changes in Operating Profit

(¥bn.)

								Volume	Others
10.0							+7.4	-0.5
			- Industrial film
8.0
			- PCR-related products
6.0			Raw materials
		and fuel costs	Prices
			-2.1	+0.1				9.2
4.0			4.4							(＋4.9 )
2.0					- Depreciation
							- Cost to launch new unit of films
0.0
Q1 FY 3/21						Q1 FY 3/22
								FY 3/21	FY 3/22	Previous
								forecasts
									Q1	Q1
									(May. 2021)
				Exchange rate (/US$)			108	110	105
												4
				Naphtha price in Japan (thousand/kl)	25	48	44

Summary of Results: BS

				(B)	(A)	(¥bn.)
			Mar. 31, 2020	Mar. 31, 2021	Jun. 30, 2021	(A) - (B)
Total assets	488.9	491.2	492.4	+ 1.2
	Cash and deposits	25.2	34.7	26.1	- 8.6
	Inventories	80.6	76.3	81.3	+ 5.0
	Property, plant and equipment	231.5	224.6	227.1	+ 2.5
Net assets	182.6	188.6	193.6	+ 4.9
	Shareholder's equity	177.9	185.7	190.7	+ 5.0
		(Retained earnings)	61.9	64.4	66.9	+ 2.5
	Non-controlling interests	4.7	2.9	2.9	- 0.0
Interest-bearing debt	175.1	187.0	184.1	- 2.8
D/E ratio	0.98	1.01	0.97	-
Net D/E ratio*	0.84	0.82	0.83	-

*(Interest-bearing debt - Cash and deposits)/Shareholder's equity

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